Blended finance to mobilize private investment to climate adaptation: Progress to date and bigger potential going forward 

__Dec 4, 2023, 4:00PM-4:45PM GST__ 

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__Background__ 
Developing countries and the international development finance community have identified the need to increase total investment in climate adaptation projects in Low and Middle-Income Countries. Convergence’s [State of Blended Finance 2023 Report](https://www.convergence.finance/resource/state-of-blended-finance-2023/view) estimates the annual blended finance flows (deploying concessional/catalytic public and philanthropic funds to concurrently achieve climate impact and mobilize private investment) for climate mitigation and climate adaptation.

The [Organisation for Economic Co-operation and Development (OECD)](https://www.oecd.org/climate-change/finance-usd-100-billion-goal/) reports all public sector development finance mobilizes around $13 billion of private investment annually; with less than 25% estimated for climate adaptation.

__About the panel discussion__ 
The session will focus on identifying existing blended finance activities and future scalable activities to increase climate impact in Emerging Markets & Developing Economies (e.g., Low and Middle-Income Countries) by mobilizing larger amounts of total and private investment to climate mitigation and climate adaptation projects. 

 __Agenda__ 

| Time | Description |
| -- | ---------- |
|4:00PM-4:04PM| Opening Statement by __Ville Tavio__, Finland Minister of Foreign Trade & Development |
| 4:04PM-4:12PM| Session introduction by __Karin Isaksson__, Managing Director, Nordic Development Fund |
| 4:12PM-4:18PM| Presentation on blended finance market/ecosystem for climate by __Joan Larrea__, CEO, Convergence 
| 4:18PM-4:33PM| Panel Discussion, moderated by __Joan Larrea__, CEO, Convergence, featuring panelists: - __Benjamin E. Diokno,__ Secretary of Finance, Philippines, Chair of the G24 - __Marc-Andre Blanchard__, Executive Vice President, Global Head of Sustainability, CDPQ - __Karin Isaksson__, Managing Director, Nordic Development Fund |
| 4:33PM-4:43PM| Questions and Answers |
| 4:43PM-4:45PM| Nordic Development Fund and Convergence wrap up |

COP28 Panel Discussion: Blended finance to mobilize private investment to climate adaptation: Progress to date and bigger potential going forward 

Join us to learn about blended finance to mobilize private investment to climate adaptation: Progress to date and bigger potential going forward 

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